Pengram Corporation
OTCQB – mid-tier listing : PNGM

May 18, 2011 10:21 ET

Exploration Commences on Pengram (PNGM) Gold Property

Phase 1 Complete of Work Program on Clisbako

BELLINGHAM, WASHINGTON--(Marketwire - May 18, 2011) - Pengram Corporation (OTCQB:PNGM), an emerging gold exploration company, announced that pursuant to an exploration agreement with Manado Gold Corp. dated September 15th 2010, the first phase of work on the Clisbako Property in British Columbia Canada, is complete.

Monado Gold Corp. has spent in excess of the $100,000 it was required to spend on exploration of the property for Phase 1.

The Clisbako Property is located in the Cariboo Mining Division of British Columbia, consisting of approximately 3,388 hectares.

"We are extremely pleased with the exploration on Clisbako to date. Like Golden Snow, Clisbako is in a highly prospective area," stated Richard Donaldson, CEO of Pengram. "We now have two properties that have been taken up by partners willing to put up the financial resources necessary to develop the claims."

Golden Snow is located in Eureka County, Nevada and is situated near several existing gold mines. Eight miles north of the Golden Snow Project is the East Archimedes Gold Mine where Barrick Gold Corporation is currently mining a Carlin-type sediment hosted gold deposit (677,000 ounces mined, 1.1 million ounces resource/reserve, as reported by the Geological Society of Nevada 2006 Special Publication #43). It is also contiguous to the southern end of Staccato Gold's South Eureka property, where Staccato has identified several mineralized areas and has defined a gold resource estimate at the Lookout Mountain deposit.

"I know we're primarily seen as a Nevada gold company, but it's important for our stakeholders to realize that the Cariboo region in British Columbia is a very prolific gold producing region as well," continued Donaldson.

More information will be forthcoming for shareholders as and when available.

About Pengram Corporation

Pengram is an emerging gold exploration company searching the globe for outstanding gold properties primarily in favorable mining jurisdictions. Its strategy is to evaluate and acquire properties where previous work has been conducted and yielded positive results for the presence of gold. Its portfolio currently consists of four properties -- three in Nevada and one in British Columbia -- under active evaluation for development, in addition to the Long Canyon Gold Trend Mineral Claims under due diligence and negotiation for acquisition.

Forward Looking Statement

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. The statements by our officers, and other statements regarding: optimism related to the business; expanding acquisition, exploration and development activities; and completing, a binding agreement for mineral project acquisitions; as well as the prospects, forecasts and projections for such mineral projects owned; and other statements in this news release are forward-looking statements. Such statements are based on current expectations, estimates and projections about the Company's business. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. In particular, there is no assurance that Pengram will complete an acquisition of the Long Canyon Gold Trend Mineral Claims or that the claims will contain the same or similar mineralization of Newmont's Long Canyon Deposit. The forward-looking statements contained in this news release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

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